Euro paused to digest gains having reversed upward as expected against the US Dollar following two days of aggressive gains. Near-term resistance is at 1.1320, the 50% Fibonacci expansion, with a break above that on a daily closing basis exposing the 61.8% level at 1.1439. Alternatively, a reversal below the 38.2% Fib at 1.1202 clears the way for a test of the 1.1005-55 area (23.6% expansion, horizontal pivot).
Resistance | Support |
---|---|
1.1320 | 1.1202 |
1.1439 | 1.1005 |
1.1585 | 1.0818 |